Leading global cryptocurrency exchange Binance announced Wednesday the launch of an airdrop initiative dubbed HODLer Airdrops to reward loyal BNB holders for their contributions and support for the platform.
In a press release shared with Coinspeaker, Binance said the program is exclusively designed for BNB (BNB price data) holders and not for everyone.
Eligible users will randomly receive airdrops from different projects of all sizes before these projects are listed on Binance for trading. The move is aimed at providing early access to new and promising projects before making it available for others.
Early Access to Promising Projects
The HODLer Airdrops program will recognise users’ past behavior and reward them adequately for their contributions. This is to ensure fairness and equality among BNB owners.
The program will benefit both BNB holders and the project’s developers by helping them reach a broader audience while the holders receive additional tokens for their loyalty.
Currently, Binance boasts of over 200 million registered users globally. The company’s new CEO Richard Teng announced last week that the new achievement is an “embodiment of the trust that the crypto community and industry players continue to have in the Binance ecosystem.”
However, it is important to note that not all the 200 million users will be qualified for the HODLer Airdrops initiative. In June 2023, Binance revealed that there are about 1.9 million BNB holders on the platform.
The firm even predicted the numbers could “grow significantly” between 2023 and 2030” as more users become accustomed to the digital asset.
Subscription Requirement for Participation
Despite the high number of BNB holders, only those who subscribe their BNB to either Simple Earn Flexible or Locked Products will be part of the program.
Binance has advised users to subscribe to either of these product offerings to participate in the HODLer Airdrop initiative. Those who have already subscribed their BNB to Simple Earn products currently earn rewards from their yields.
The exchange will take snapshots of users’ wallet balances before allocating the airdrops. Binance said the snapshots will be taken randomly, starting Wednesday, June 19, 2024.
Once a snapshot is completed and an airdrop is announced, qualified users will receive their tokens directly in their wallets within 24 hours.
“Once a HODLer Airdrop is announced, qualified users will receive their tokens in their Spot Wallets within 24 hours. The tokens distributed through this program will come from small to medium-sized projects set to be listed on Binance,” Binance said.
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